Silver prices continue to rise at Phu Quy Gem and Gold Group, with buying and selling rates of 1,349,000 VND and 1,391,000 VND per tael, respectively, in Hanoi.
Meanwhile, the buying and selling prices of 1kg 999 silver bars are 35,973,243 VND and 37,093,241 VND per bar, updated at 9:32 on June 9th.
As of the survey time at 9:30 today, June 9, 2025, the world silver price reached 36 USD per ounce, with buying and selling rates of 937,000 – 942,000 VND per ounce.
Silver is currently trading at its highest level in 13 years. Despite potential fluctuations, surpassing the 35 USD per ounce mark is a significant milestone. This is the third time in history that silver has reached this price level.
According to experts from TD Securities, a multinational investment bank and financial services provider, the last time silver reached this level was in 2010. Just six weeks later, silver prices peaked at 50 USD per ounce.
“We have long expected silver to narrow the price gap with gold,” said Nitesh Shah, a commodity strategist at WisdomTree. “Silver now has a very strong fundamental backdrop, including supply shortages and robust industrial demand.”
The gold-silver ratio, which represents the number of silver ounces needed to buy one ounce of gold, currently stands at around 94, down from 105 in April when it hit its highest level since May 2020.
This decreasing ratio indicates that silver is outpacing gold in terms of price appreciation.
As a precious metal that serves both as a safe-haven asset and an important industrial metal, silver has gained 24% since the beginning of 2025. According to the World Silver Institute, industrial applications account for more than half of global silver demand.
This demand has remained robust despite challenges in the global industrial sector over the past few years, thanks in part to silver’s growing importance in solar energy and electrification, said Shah.
“Like other precious metals that are appreciating, silver is also benefiting from common factors such as weakening US economic data – bolstering expectations of rate cuts, which could support industrial demand in the latter part [of the year],” said Giovanni Staunovo, an analyst at UBS.
“In the long term, increasing industrial demand for silver could push prices to 40 or even 50 USD per ounce,” predicted Fawad Razaqzada, an analyst at City Index and FOREX.com.
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